Eurozone Finance Ministers’ Meeting in Budapest at Risk Due to Orban’s Pro-Russia Stance

A forthcoming meeting of Eurozone finance ministers scheduled to take place in Budapest on 13 September is under threat of cancellation due to growing discontent among member states regarding Hungary’s favourable stance towards Russia.

This development highlights the deepening rift within the European Union over Hungary’s relationship with Moscow, particularly in the context of the ongoing war in Ukraine.

According to the report by Politico, Paschal Donohoe, the Irish Minister for Public Expenditure and Reform, who is set to chair the meeting, will make a final decision next week on whether the gathering will proceed as planned.

The situation appears to be fluid, with intense diplomatic communications currently taking place between EU capitals to gauge the extent of opposition to holding the meeting in Hungary. Reports suggest that several ministers are contemplating boycotting the event if it remains scheduled for Budapest. Among those who have indicated they may not attend are Christian Lindner, the German Finance Minister, along with his counterparts from Estonia, Finland, and Lithuania.

Eurozone finance ministers typically meet on a monthly basis, but the biannual meetings in the country holding the rotating presidency of the EU Council carry additional significance. Hungary, which currently holds the presidency, has seen its tenure marked by controversy, particularly in light of Prime Minister Viktor Orban’s actions and statements regarding Russia.

Orban’s recent diplomatic efforts, which included a visit to Moscow shortly after Hungary assumed the EU presidency, have sparked widespread criticism across the European Union. Many EU officials have distanced themselves from Orban’s actions, emphasising that he represents only Hungary in these matters, not the broader EU.

The controversy over Hungary’s presidency is not limited to the finance ministers’ meeting. Earlier this week, a scheduled meeting of EU foreign and defence ministers was relocated from Budapest to Brussels, highlighting the growing unease among member states. This decision was reportedly influenced by concerns over Hungary’s close ties with Russia and its impact on EU unity.

The European Commission has acknowledged that, while it cannot legally strip Hungary of its EU Council presidency, it does have the option to boycott events hosted by Hungary. This potential boycott could be seen as a significant diplomatic rebuke, reflecting the broader tensions within the EU over Hungary’s foreign policy.

As Donohoe prepares to assess the mood at an upcoming round of talks in Brussels, the possibility of cancelling the Budapest meeting remains on the table. Such a cancellation would be unprecedented and would send a strong message about the EU’s stance on member states aligning too closely with Russia, especially in light of the ongoing war in Ukraine.

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